Commercial Property Information

Commercial, Industrial, & Business Personal Property are valued based on the
actual value of the property based on the cost approach, industrial market
approach, and the income approach, § 39-1-103(5)(a), C.R.S.

Commercial property is assessed at 29% of its actual value. If your
commercial real estate is valued at $100,000, your assessed value is
$29,000.To calculate your
taxes, multiply the assessed value by the mill levy.Remember that the mill levy is expressed in mills, which is 1/1000,
so multiply by the mills, but move the decimal three places to the left.
Example:

$100,000 x .29% x 83 mills = $100,000 x .29 x .083 = $2,407.00

Real property includes land, buildings, and fixtures. Fixtures are items
that are attached to the real estate, such as heating and air conditioning
units, plumbing, lighting, etc. Real property also includes
Possessory Interests.

Personal Property includes equipment, machinery, and other items and, more
information can be accessed
here.

The valuation of commercial real and personal property is determined by
using the market, income, and cost approaches.

·
Market Approach is based on an analysis of arm’s-length sales of similar
properties.

·
Cost approach is based on an estimate of the cost to replace the
property with a substitute that is equivalent in
function and utility
less accumulated depreciation.

·Income approach is net income capitalized to account for a typical
investor’s financial return on the investment.

Notices of Value are mailed on or before May 1.For more information, please click
here.

For more information on business and industry valuation, please download a
brochurehere.

Note: Income information for income producing properties such as hotels,
motels, storage units, offices and other properties that are rented or
leased to others, is very important for the development of market income
information.
Questionnaires are mailed to all business owners after the first of the
year.
Please complete this information and return it to this office as soon as
possible.
Remember, we do not want your business enterprise income. This is
confidential information and not available for
public inspection.
For a questionnaire,
click here.